The clean up could cost more than the property.
This could be Victoria’s cheapest sale for the year.
A burnt-down building on 843sq m at 92 Lindsay Rd, Dartmoor — between Warrnambool and Mt Gambier near the South Australian border — set the buyer back just $15,000 in a whirlwind sale after just over 20 days on the market.
The sale came about after the rental property burnt down and the owner, who didn’t have insurance on the building, decided to offload the burden.
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A fire tore through the Dartmoor property.
The fire was not deemed suspicious following an investigation, a Victoria Police spokeswoman confirmed.
Assets Real Estate Heywood & Portland agent Kevin Hughes said the buyer came from out of town to secure the property, which came on the market with price hopes of $25,000.
CoreLogic records reveal the property last changed hands for $52,500 in July 2013.
“This (buyer) will clear and flip it,” Mr Hughes said. “He may put a relocatable (house) now that they’re coming out of Melbourne.”
Mr Hughes said interest in the property came from “all over the shop”, thanks to the dirt-cheap price tag.
A police investigation deemed the fire was not suspicious.
The buyer is expected to put a relocatable house on the block and onsell it.
But the agent said there had been a wave of interest in the region because of affordability and a laid-back lifestyle.
“We’re getting a lot of inquiries from out of town,” Mr Hughes said.
“A lot of people go to Port Fairy and all of a sudden are seeing this area and realising how cheap it’s been.
“It’s nice, easy cheap living out this way.”
Beautiful beaches with “sensational” fishing were drawing out-of-towners to the region, alongside work at the Portland aluminium smelter, Mr Hughes said.
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